AI chip startup Etched announced on the 18th local time that it had completed a $700 million funding round at a $21 billion valuation (note: approximately 141.895 billion yuan at the current exchange rate).
The company has shipped its first AI accelerator racks to Jane Street, the lead investor in this funding round. Jane Street said: “We tested the chip and were pleased with the initial results. Etched’s unique approach to inference delivers the accuracy we need to support the most demanding workloads. We are very excited to deploy our own racks in data centers.”
Etched raised $500 million at a post-money valuation of $5 billion in December 2025; less than a month ago, on July 23, 2026, Etched secured $300 million in funding led by Sequoia Capital at a $10.3 billion valuation.